A Minnesota manufacturing company looking to expand may settle in the former AGCO building in Coldwater.

Mercer County Community Development Director Larry Stelzer said officials are currently in the talking stages and he could not provide specific details. However, he said if the company decides to expand to the Coldwater building, it would provide more than 40 jobs in two years.

Stelzer's office organized a meeting last week with representatives from the company, state officials, Coldwater village Manager/Engineer Eric Thomas and others.

"It went pretty well," he said about the meeting. "The state is getting a commitment letter for incentives (job creation taxes, tax credits)."

Stelzer said visiting company officials will have to make a decision soon, They also are looking at a location in Indiana.

"Hopefully we impressed them enough," he said.

At least two other undisclosed companies also are considering moving to the AGCO building, now owned by Bruns Building and Development, St. Henry, Stelzer said.

"There's been so much interest in the last couple of years ... it's been phenomenal," he said. "They've (Bruns) done a wonderful job. They've added loading docks. They're redoing the outside on Sycamore Street. It looks like a million dollars."

Stelzer said he and others also are attempting to secure additional state grant money to improve some of the streets behind the building.

The building is 1.5 million square feet. Stelzer estimated there still is less than 1 million square feet available. The building currently houses five to six companies, including Health Care Products, Work Flowone (formerly know as Relizon), Celina Tent and a recently started small business that Stelzer declined to name. He also said it is used as a warehouse for a few companies.

"In my opinion, that (building) is one of our best opportunities to get jobs (around here)," he said.